Does the Government Accountability Office need to look into whether state regulators are overstepping their authority in supervising risk retention groups? As a popular insurance industry TV commercial goes: Does Elmer Fudd have trouble pronouncing “wabbit”?
In late July, a probe was ordered into whether state insurance regulators are going too far in the burdens they place on RRGs. The directive came from Rep. Dennis Moore, D-Kan., who chairs the House Oversight Committee on Financial Services.
When the report will be delivered remains to be seen, but as to the need for such an investigation, I say it's about time!
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